Monday, December 13, 2010

Consumer Decision making

Trying to determine how consumers make decisions is at the core of strategy for marketers as the work to maneuver the various principles of marketing. Consumers have their own maneuvering to do as they seek to determine which products and services to buy or not buy, which brands to use, and which brands to ignore.
Behind the final act of making a purchase exists a multi-layered and sometimes complex decision process. The purchase decision process is the steps a buyer follows when making a choice about a product or service to buy. The five stages of consumer behavior are: problem recognition (perceiving a need), information search (seeking value), alternative evaluation (assessing value), purchase decision (buying value), and post-purchase behavior (value in consumption or use).Consumer behavior refers to the process of acquiring and organising information in the direction of a purchase decision and of using and evaluating products and services. This process encompasses the stages of searching for, purchasing, using, evaluating, and disposing of products and services. Decision making process comes from the thought process of select a logical choice from among the available options. When trying to make a good decision, a person must weight the positives and negatives of each option, and consider all the alternatives. For effective decision making, a person must be able to forecast the outcome of each option as well, and based on all these items, determine which option is the best for that particular situation.

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